The prospects towards 2031 for the global dairy sector

World trade in dairy products is projected to expand over the next decade to reach 14.2 MMT in 2031, 15% more than during the base period. Growth rates vary across dairy products, with 1.7% p.a. for LPD, 1.6% p.a. for cheese, 1.5% for whey powder, 1.3% for butter, and 0.9% for LPE . Most of this growth will be covered by higher exports from the US, the EU and New Zealand. Australia, another exporter that has lost market share although it remains a leading exporter of cheese and LPD. In the case of LPE, Argentina is also a major exporter and is projected to account for 5% of world exports by 2031. In recent years, Belarus has become a major exporter, targeting its exports mainly to the Russian market due to the embargo suffered by that country. The EU will continue to be the world's leading exporter of cheese (44%), followed by the US and NZ. Sustained in the first case through the CETA agreement with Canada and with Japan after the ratification of the bilateral trade agreement in ...